Originally posted by @JD Martin:
Originally posted by @Mark F.:
@Chris K. Agreed. The problem with regulations, no matter how well-intentioned, is that it hammers small business particularly hard. Big businesses can usually afford the added compliance costs of new regulations, but small businesses can't. In a way, regulations help bigger businesses freeze newer small competitors from entering the market. I've got my qualms about Trump, but I'm all for chopping regulation because it should really help the economy - particularly small business.
I see comments like this all the time (not picking on this particular post, just using it for illustration). People love to talk in platitudes about how chopping X,Y, or Z regulation is going to be a boon for small business, but I never see any examples. First of all, what does one qualify as a small business? Second, what specific regulation is causing you angst as a small business owner? I own a small business, and other than things like paying minimum wage or not violating federal housing regulations, I cannot think of a single regulation put in place by either party in the last dozen years that has had any bearing on my ability to make money. There may be one, but if there is I am either unaware of it or have forgotten about it.
The overwhelming majority of laws and regulations already include waivers or non-compliance for small businesses. No doubt some/many/all regulations are going to ensnare bigger fish like @Jay Hinrichs . But I would like someone to provide an example of a regulation that is hurting your small business, so that we have something to go by here.
Let's say a taxi cab commission that's made up of taxi company owners. They will obviously skew the rules towards the major players at the taxi cab commission table. Check out Missouri/St. Louis in regards to this. Uber can't pick you up at the airport.
This isn't exactly a regulation but the business tax rate is the same for all businesses. But look at effective tax rates that publicly traded businesses pay compared to small business. (Think Warren Buffet saying he pays less taxes, %, than his secretary). They know how to game the system.
Also, look at inversion (the domicile changing to a place like Ireland for lower tax rates). Small businesses generally aren't practicing inversion.
Let me know what you think.
